I'm responding to the posting with the picture of the starter with switch removed.
Here is a picture that I borrowed from a previous forum posting (link below).
Hopefully I can explain without making it more confusing. The engine must have a ground. The copper braided strap goes from the bolt (as shown in your picture) to the truck frame. As originally designed, the negative post on the battery will have a ground strap or a cable that goes to the truck frame. In your picture I see a cable on the same bolt as the strap. This cable is probably going to the negative post of your battery. This arrangement will probably work okay but it's not to the original design.
https://www.stovebolt.com/ubbthread...on-a-1954-chevrolet-3100.html#Post973142