On either side of the leaf spring. Was told that there should be a piece about as think as an inner tube on both sides of the rear leaf spring to eliminate some of the noise from the axle.
Here are the details from the Macsautoparts site. Leaf Spring Center Pad - Ford - FORD Part #: 49-31485-1 Alt Part #: B9SZ-5741-A Price: $7.95 ea. You'll need four of them if you decide to replace them.
If they were put it in by the factory there must be a reason. My hearing isn't what it used to be 50+ years ago thou. When I re-carpeted my Merc & my truck I put that sticky backed tar & tin foil sound deadner in & that made a big difference in sound control.