Remove the power steering pump cover on the flange on the left hand side of the engine block just behind the timing cover. It has three screws holding it on. Reach in and feel for the cup and shaft assembly of the govener. Move it forward with your fingers and move the throttle shaft coming out of the timing cover, if there is free play, back off the adjusting screw nut and turn the screw in one half turn at a time and note if the free play is reduced. Note how many turns you move the screw in case there are other issues. If you notice improvement keep turning the screw in a little at a time and stop when the free play is gone. Remember to have that cup assembly pushed as far forward as possible. Once you have the free play out, put the power steering pump cover back on and start the engine. It should not over rev and you should have better speed control. You may need to screw the adjuster in about a eight of a turn at a time until the motor does not surge. Remember to tighten the locking nut on the adjusting screw. If you cannot get the free play out with the adjusting screw, there is a spring acutuated by the adjusting screw that may be missing or broke. This will involve removing the radiator and timing cover.