A speed governor (10) is enclosed within a generally cylindrical housing (70) which defines an interior cylindrical surface (73). A rotor (11) is rotatably supported within the housing (70) and is coupled to a power coupling belt (83) by a pulley (40) formed in the rotor shaft (16, 17). A pair of weighted arms (31, 51) are pivotally secured to the rotor (11) forming a pair of centrifugal counterweights (30, 50). A coil spring (60) is commonly coupled between the counterweights (30, 50) to provide a drawing force urging the counterweights (30, 50) to a collapsed inward position. Each counterweight (30, 50) supports a friction pad (33, 53) on its outer surface (32, 52) facing the cylindrical surface (73) of the governor housing (70).