No, it would take a very large rectifier to do what you are describing, trouble waiting to happen.
Is this a Delco 10SI one wire alternator?
If so pry the rubber plug out where the wire harness would normally be, get a test light and check the #1 terminal with a test light. Be careful not to short it to the case.
See if that terminal makes 12v when the alternator is spinning up to charging speed. If so, you can power the hour meter of that.
If it's another type alternator, try checking any terminals the same way. Look for anything marked s or stator.
If that doesn't pan out, you can use a 2 pole normally open oil pressure switch. Be sure it has British pipe threads.
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Today's Featured Article - Show Coverage: Godfrey, Illinois Country Days - by Cindy Ladage. Except for last fourth of July's Old Gold show in Springfield, Illinois, I don't remember when it was so hot. Nevertheless, the heat didn't keep vendors and visitors alike from enjoying the third annual Country Day's Event. Jane Elliott said the event was originally a one man show. "Barry Seiler, owner of Country Town Farm Supply store used to invite people up to the Johne Deere store. He would give hats and a free meal for everyone that brings a tractor." Elliott said while this
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