What is this?

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I think reducing the pulley on the motor shaft is a good place to start.
 

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I think, if I am able to do it, if I design and 3D print a bigger wheel to attach to the current handwheel, that I might achieve the lower speeds. I think the current 2 pulley setup is designed to achieve higher speeds, but I do tend to reverse these things. I also did a projection for a 1 pulley setup, which could get approx 3 inches per second. I'll get someone to double-check my figures. (see images)

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Ah! Sweet! The clutch does have two different sizes on it. Hmm ... Thanks! :D

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Thanks guys! So ... what kind of speeds should I expect from it ... lower RPM or higher RPM than the motor output itself?

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Can anyone tell me what this pulley/reducer is and how it works? I am not sure what it is set up to do ... make the machine go faster or slower? the head on top is a Singer 241-12 with no modifications as far as I know. I bought it set up as is pictured.

The problem is I bought this set up as it is, but the oil pan is missing. My initial thought is it was set up to go slow, or someone was trying to make it do that. But, from (https://www.engineeringtoolbox.com/pulley-diameters-speeds-d_1620.html), it seems the pulleys would make it go faster. I usually get such things backwards. Advice?