If you do take up Chris' suggestion and get a genuine chronometric Smiths speedometer you'll need to ensure it is correctly calibrated, or else you will be spending quite a bit of money and still be getting incorrect readings! They come with various different calibration figures usually between 1400 and 1700 depending on their intended bike's tyre size and speedo drive gearbox ratio. All but the older Indian Bullets will have a front wheel drive speedo with a 2:1 replica Smiths gearbox (earlier ones have rear wheel speedo drive same as the Redditch-built bikes). With the tyre date from the tyre manufacturer's web site you can calculate the circumference and thus the number of revolutions the tyre will turn in a mile.
Assuming a 3.25" x 19" Avon (AM26) front tyre with an 82" circumference, that will rotate 772.68 times in one mile (when new). Run that through a 2:1 gearbox and you're after a speedo calibrated to 1545 or very close. For a 90/90 x 19 tyre, 1582.
A good speedo repair person can always re-calibrate a chronometric to suit while overhauling/repairing. If you're in Sussex I would suggest Philip Woods in Littlehampton, he has done a good job with a number of chronometrics for me.
The other option is a Puca Smiths digital version of the old speedos for about the same as you would pay buying a used original and getting it overhauled, which you can calibrate yourself.
http://www.puca.co/productC.html
A.