Dash power running through Alternator gauge?
Basic power circuit is like this.
Cars have two power sources; the battery, and the alternator.
Fusible link was added either '64 or '65.
All of the wires connected to the battery are always 'hot' up to the switches.
Ammeters were used on all better instrumented vehicles.
They were also a standard item for under dash gage sets (probably because many plain jane GM products had no instrumentation to speak of)
The important thing is to understand what its showing.
From Chrysler's master tech 1960
Anything close to either extreme is a problem. (Your car's ammeter is calibrated to be 40 to 40 amps) If it stays at or over 40, its a big problem. Shut down.
The fusible link will usually protect from the worst situations by melting.
And if it stays pegged, disconnect battery.