Water Pumps...rebuild or new?

[6lucky13]

I noticed a burning rubber-type smell when I ran my ’37 engine (in ’36 Cabriolet). I finally traced it to the right water pump not turning causing the generator belt to rub on the pump pulley. Assuming a failed pump (belt was appropriately tensioned since left pump turned), do I rebuild the pumps (Skip or ?) or purchase new? I would appreciate your comments/thoughts.

Kerry