I am old Frogpatch,, but not that old !! LOL
I haven`t a clue but would love to see the action of it !! I would guess there is a part missing,, but what ?
Here's another view of the one I mentioned earlier. The wooden handle would be connected to the ball on the half gear drive, which turned the flywheel. A flat leather belt would run from the flywheel to the blower under the pan to provide the draft. As you worked the handle up and down, everything would work in unison, and harmony could be felt throughout the farmyard!
(These were basically a light duty forge intended for small repairs, horseshoeing, etc. on the farm. For the bigger stuff...a trip to town was required to visit the "smitty".)