Rrrrrrr, need help on this one.

What does your ammeter do right before the fuse blows.

In 67 the fusable link goes from the starter thru the firewall to the ammeter then to the battery charging cir of the alternator and to the ignition switch and to the headlight switch.

A short anywhere in those cirs would blow a fuse, but 40 amp dead short is hard on 18 gauge wires so I would expect you will find wires melted together.
No wires are melted together. The inline fuse runs from the ignition relay attached on side of inner fender, by the battery. To the bulkhead middle connector. I didn’t take notice of what the ammeter does. When I get more fuses, I will check.