you're resisting current flow, so yes, an ammeter on the motor side of the switch will read lower than one on the battery side - and if you use a voltmeter to check from the output side of the switch to ground, you'll still see full voltage
"When we tug a single thing in nature, we find it attached to the rest of the world" ~ John Muir "When we tug a single thing on an old truck, we find it falls off" ~ me Some TF series details & TF heater pics