Thank you Dan, I appreciate the detailed reply. This helps me to understand mostly that this is beyond my level of expertise lol. Thank you though, this is fantastic. Jeremy

According to Haynes 1969 - 1996 manual, a 1974 should have two flasher units.

The hazard light flasher is always powered through its own fuse via a brown wire. From the flasher unit, a light green-pink tracer wire goes to the hazard switch. Ther is a third wire green-light green wire tO+o the hazard indicator lamp. The flasher has 3 terminals.
The hazard switch has 5 wires coming to it. One comes from the flasher unit and goes to terminal 5 on the switch. On terminals 1 and 2, there are two wires light green- brown trace which are the feed to the turn indicator switch in the  column stalk. When the hazard switch is activated, it disconnects this power source and supplies power from the hazard flasher to both the left and right turn signal lamps front and back.

The wiring circuit to the left turn signal lamps is red-green trace and to the right green-red trace. At each lamp, a red wire via a line plug feeds the lamp filament, so don't be fooled by the colour change. The hazard switch feeds left and right through matching wire colours through its terminals 3 and 6.

Most likely your hazard switch has failed or is improperly connected.  Try disconnecting a red-green or a green-red and see if your turn signals wok properly.

The turn signal flasher, the hazard flasher and the hazard switch are located on the same electrical circuit. I have looked long and hard at the wiring diagram (page 216 of the 1991 Haynes manual) but it's too complicated for me to figure out. You need to get a Haynes Manual and first confirm that these components are wired up properly according to the wiring diagram. As a guess to your problem, I would replace the hazard  switch. 

I don't have a 74 mini.  I would try a new switch first. Hopefully that helps. 

Just picked up my 1974 mini.  My Turn signal activates the hazzards (Both ways).  (Hazzards work like normal).  Any thoughts on how to rectify this.
Jeremy