The cone pulley is designed to spin on the mandrel when the little wedge shaped key 51 on the bull gear is lifted out of engagement with the ring gear on the pulley.
Check that the the teeth of the key are pushed down fully engaged and locked into position with set screw 53 (which if not tight can allow the key to disengage due to centrifugal force.
Once you are sure the key is fully engaged in the lower position with the teeth well meshed, check you have disengaged the back gear cluster and moved it out of position and locked it out with nut 69, pull on the belt to turn the pulley. All should be well, you should see the bull gear turn with the pulley, and the spindle should turn also.
I believe that the bull gear is keyed to the spindle with a woodruff key, but check the bull gear does turn with the pulley. If key 51 is fully engaged and the bull gear and spindle does not rotate with the pulley, then there might be issues with the woodruff key. you can check setscrew 54, but I think this is really only to set fore and aft position, not lock the bull gear to the spindle.