Technical 37 ignition switch

hi,
so working on a 37 ford 1/2 ton PU and i have a question relating to the key/ignition switch. i've attached 2 pics for reference.
my question is, there are 2 poles under the switch. should one of them be keyed hot? if so where does it get it from?
thanks

 

Original wiring would have one side of the switch connected to the battery side of the fuse on the panel mounted on the inside the firewall and the other side of the switch going to ignition ballast resistor next to the fuse on the same panel.