Steve Metzger addressed this some time ago with an excellent diagram how to set it up. If you search the forum you will his previous post.

Rick - West Australia
Do Y Blocks Downunder run upside down? Gravity Sucks!!

my 57 ranchero has a throttle return spring,from the lever that is part of the foot feed to the intake. mine is a manual trans. the kick down likage should be tied to the throttle,when you floor it the kick down has a slot wher it moves the tp rod to the trans.ther should be a hole in the likage wher you put a pin in to adjust tp. get a older motors repair manual and they did a good job walking you threw. just did a 56 merc. not sure if they ar the same,thinkso.

I've got a "basically" stock '57 Tudor Ranch Wagon with 292, new Holley 4-barrel carb (#1848-1/465cfm), and Fordomatic trans.  In looking at the factory manual, page 2-89, Fig. 105, I see no return springs anywhere on the bell crank or throttle linkage.  On the previous page, Fig. 104, it shows one return spring, but that picture relates to the 2-barrell carburetor.  I guess my questions are (1) where is the spring for the throttle return; (2) where's the spring for the kick-down; and where can the correct springs be purchased.  Sorry for the lengthy post, but any advice would be appreciated.  Thanks, Ron.