A lot of old engines have run for a long time without any sort of recirculating crankcase ventilation so it will not hurt anything.
If you are interested in tracking down a blowby issue you should check the compression. You can probably rent a gauge at any chain auto parts store.
Check the compression on all cylinders and then add a tablespoon ( or a few squirts from an oil can) to each cylinder and check the compression again. If the compression numbers come up a lot after you add the oil the rings are probably worn, causing your blowby problem.
Greg
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