I would think you need to know what degree of thermostat your running first.
Here is a link to the thermostat in the 1954 shop manual.
thermostat Maybe Tim Lederman will chime in soon.
Tim
4 psi radiator caps and around 150-160 degree thermostats were standard in 1954 trucks. Higher temp thermostats were used on larger trucks (180-190 degrees).
As Tim asked, what degree thermostat and what pressure radiator cap are you using?