That lower unit used standard seals and bearings. You CAN buy them at a local bearing supplier but you must specify all stainless. My bearing supplier says the seals are all stainless but I find that they rust so someone is either lying or doesn't know his product. At any rate I now buy seals from a marine supplier.
There are several places where your lower unit can leak: 1. bad gaskets at the fill and drain plugs. 2. worn shift rod seal. 3. Prop shaft seal. 4. drive shaft seal (under the water pump). 5. The rubber O-ring seal around the gear-case to mid-unit joint.
If the shift rod seal is leaking, very often it can be re-sealed simply by taking an appropriately sized socket and a piece of pipe. Put the over the seal and tap it further into its seat. There should be a slight drag on the shift rod but not excessive so do it a little at a time.
Like jerry said, pressure test the lower unit so you know exactly which seal is leaking. Since it is a 1974, many sites will not carry parts for it. certainly, iboats will not. You can try marineengines(dot)com or boats(dot)net. If they don't have what you need try Franz at
franzmarine@aol.com. Note that the dot in parentheses is actually a period. The forum will not let competing sites be posted
When you go to drop the lower unit, there is a "hidden" screw inside the exhaust snout. you need to remove the snout to access it. Depending upon which lower you have ( If the rear of the mid-leg drops almost straight down to the lower unit) the screw may be a 5/16 12 point head and may be six inches long.