That's a nice and very desirable radio. Those Jackson-Bell's have a high "cute" factor. The set is in good condition: from what I see, the black base trim could be repainted and the set given a going over with some Goop hand cleaner (the kind WITHOUT pumice) and then some Old English scratch cover.
Magnavox supplied speakers for many manufacturers back then and this one is certainly of the era. I wouldn't suspect it as being a replacement unless there were clues.
Here's the schematic. Click on the "eye" to open it for reading.
http://www.nostalgiaair.org/Resources/669/M0009669.htm
NostalgiaAir says "pre 1936" but the tube lineup, TRF design, and the 0 - 100 dial (instead of being marked in kilocycles) dates it to about 1930. The tubes are (4) 24, (1) 45, and (1) 80.
The first thing to do would be to see if the power transformer is still good, because if it isn't, restoration is going to be a lot harder and expensive. Pull all the tubes. See that the fuse in the back is set for the higher voltage per the instruction sticker. The line cord is 80 years old so inspect it carefully for fraying and breaks. Best to replace it. Brown replacement cords with plugs are available at Wally*World. Wire up a "dim bulb tester." This is a set up such that if there's no short in the transformer, the light remains dim but if it goes bright, there's a short. An easy way to make one is to take an old lamp that has a typical cord with two parallel wires. Snip just one of the wires and pull the two pieces out and away from the remaining continuous wire. Strip the ends and connect to a receptacle. Plug the radio in there, the lamp plug into house current, and a 75 watt bulb in the lamp. Turn the radio on and watch the lamp. Should glow dimly. If full normal brilliance, bad news: short.
If no short is evident, leave the tubes out, have the set upended where you can observe the transformer, and plug the set directly into the wall. Watch, listen, sniff, for any fireworks or cooking. If nothing right away, watch for twenty minutes or so. Every now and then unplug the set and feel the transformer. It should only get warm, not so hot you can't touch it. Other checks later.