Rear Swingarm and Spindle Help

[wordman5]

Okay, I've only ever restored rigid framed British bikes, so swingarms are new to me!
I tried to read all of the threads, and don't think this one has been touched on before. If it has, I'm sorry.
When I re-installed the swingarm (new bushings and collars) on my '66 Super Hawk and tightened down the lock nut on top of the footrest hanger, the swingarm no longer had 'free' movement. It was stiff. I have a washer (not a Honda part, but sourced from my spare washer bin) under the head of the spindle, and under the locknut. All seals are present and accounted for.
I assume that when you tighten the nut, the swingarm should not stiffen up.
And, there is a short portion of the spindle that is not threaded protruding from the left side of the swingarm--is that normal?
So, what am I missing that might be painfully obvious to someone else?
Are the washers to blame? Are they a special thickness?
All insights welcome, I need help here.
Thanks!