I can send you a Service Manual for your engine IF you like.To adjust the governor, Move the carb throttle arm to wide open position and hold it there. Note the direction the governor shaft coming out the side of the engine moved when doing this. Loosen the clamp holding the governor arm to this shaft, turn the governor shaft on in the direction it moved as far as it will turn. This will not be much. Re-tighten the clamp on the governor arm. IF this doesn't work, you will have to remove the sump and see what is going on in there. The governor weights may have come off or be broken. Also note that the governor assembly is part of the oil slinger assembly.
Walt Conner
wconner5 at frontier dot com