Red Light in Dash

OK, I got the Midget running driving and most importantly stopping  now.  
That means its time to chase the electrical demons.
 
There is a red light in the dash that glows whenever the car runs.  Is  it 
supposed to be on?  It would seem to me that this would be a bad thing,  but 
the 
car keeps on running.  I would think the battery would be dead by  now if 
this meant that it wasn't charging.
 
A little help here...
 
Tim Wallace
'73 Midget
Fuquay Varina, NC