The dynamo is not intrinsically positive or negative earth.
If it is a lucas with a seperate mechanical voltage regulator (some times called a control box) then all that is needed to change polatity is to flash the field winding.
Positive earth was comon in the late 50s through the early sixties to allow the early transistor radios to work.
The dynamo starts chargeing useing the residual magnetic field, if the residual field is wrong the dynamo will fairly rapidly discharge the battery.
Flashing the dynamo (which should be done every time the dynamo is taken to bits) involves taking a wire from the battery live (negaitve if you have positive earth) to the field terminal on the dynamo and leaving it connected for about one second to establish the correct residual field.