Hello Tom. This post mostly refers to “gravity drippers” which are glass tubes, usually mounted on a small oil tank located on the frame, well above the engine. With these drippers, the engine is started and then screw taps are manually turned until oil can be seen dripping slowly into the glass tubes and then to the engine.
I think that your question may be about a Pilgrim oil pump which is mounted on the side of the crankcase or on the magneto platform. The Pilgrim is driven whenever the engine is running and delivers oil automatically according to engine revs. The rate of delivery is regulated to each side of the engine by the silver discs you mention. The starting point for adjustment is that when you start the engine, you will see that oil spits from each “beak” seen through the top of the pump. For every four spits a drop of oil should fall from the beak into the chamber. This rate of delivery is adjusted by turning the silver discs clockwise to reduce delivery, anti-clockwise to increase.
When the engine is hot, the ratio of spits to drops will almost certainly change so should be adjusted back to four to one and then left at this setting and needs no further attention but should be checked regularly when riding and the engine is fully up to temperature.
If you have a reduction gear in your oil pump drive or any other modification, then ignore the above and ask again!
Regards
Colin
