A speed governor is enclosed within a generally cylindrical housing which defines an interior cylindrical surface. A rotor is rotatably supported within the enclosure of the housing and is coupled to a power coupling belt by a pulley formed in the rotor shaft. A pair of weighted arms are pivotally secured to the rotor forming a pair of centrifugal counterweights. A coil spring is commonly coupled between the counterweights to provide a drawing force urging the counterweights to a collapsed inward position. Each counterweight supports a friction pad on its outer surface facing the cylindrical surface of the governor housing.