Burnt Wire

View attachment 1715693107 So the column connector (circled) is what fried?
No. Then there would be no power to the key switch.

Lets step back for moment.
Voltage describes the energy level. It's like pressure in a pipe. In your house there's 60 psi in the house water lines. Maybe more in certain places, less in others. That 60 psi is there when all the valves are shut. No water flowing. When a sink faucet is opened, the water flows from high pressure to low pressure. There's still close 60 psi in the lines.

Amperage describes the electrons flowing. That's like the water flowing - gallons per minute. With the sink faucet open, its very little flow. If the entrance pipe was broken, that would be huge flow.

The column connector in your '70 looks something like this. (this is a '74, things like colors may be a little different)
dart-new-jpg.jpg

The wire that connected the column to the dash is a grounding wire. Someone above explained one thing it does is ensure a good connection for the horn relay. On cars with column selectors, it also serves to insure good grounding for the gear position lamp.

Here's a '70 Duster - also hacked but the remaining the colors are probably the same as yours.
img_20210204_225034-jpg.jpg