That was not the only item we take for granted today that was an option back then. While changing the oil for the first time when I got my 54 I discovered an oil filter was an option. The original owner chose not to take that option. I have no oil filter on my 54 235. I am on the hunt for an original oil filter set up correct for a 54 235.
Here is a picture of the original switch. They have a toggle similar to a modern light switch.
Toggle Switch Picture