Thanks for all the information and advice! I received my belt, but I got distracted with Christmas projects and just got back to this project. I have the new belt on. We were able to make the hole with a small nail. The ruler stand my hubby made for me a few years ago had 3/8" in sized grooves so we were able to use that to keep the belt from turning. He made the hole with a small nail.
I have been trying to use the treadle (unthreaded and no bobbin). It woks great when the balance wheel is disengaged. When I engage the balance wheel and turn it with my hand, everything seems OK. However, when I engage the balance wheel and use the treadle, I can't keep it going, and seems to have a lot of drag. Does it just need some oiling? If so, do I use the normal sewing oil machine that I use for my other machines? Is the belt too tight or too loose?
As always, any help or advice is very much appreciated.