there's an npt pipe plug on both ends of the bottom of the block, hopefully, you just have a loose one. before trying to tighten it, clean it up with some brakekleen and check for cracks around it from overtightening. Sometimes there's also leakage from the governor arm pass through--not much to be done about that one but give it an occasional cleaning under there.
when you say caliper, do you mean the brake drum and band? there's a couple stop bolts that go into the drum's hub to lock it to the axle--might be loose. There's also an annoying to work around u-brake that acts as a safety/keeper for the brake band, if the liner material is worn off the band it may be riding off the drum and into the keeper, locking it up.
be careful with the throttle/governor linkage springs, if they're original, it's best to leave them be. take some pics and post if you can. once you start messing with those stupid little things, it can be the devil to get it set up properly again.
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