The bearing is insulated from the mast and the steering shaft. The steering wheel should have a plunger that rides on the bearing (that’s connected to the horn wire. When you mash the horn button it makes contact with the plunger and provides a ground path through the steering shaft.

Kevin
1951 Chevy 3100 work truck
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Photos
1929 Ford pickup restored from the ground up. | 1929 Ford Special Coupe (First car)
Busting rust since the mid-60's
If you're smart enough to take it apart, you darn well better be smart enough to put it back together.