Add a flange to the handwheel to create a drum. Thread a chord over a pulley attached to a rafter and down to the drum. Add a weight to the other end of the chord. When you turn the handle the chord will windup the weight. To unwind just pull the chord.
I do this with my compound feed when doing repetitive passes.
Option two would to start the hole in the lathe and finish in a drill press.


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