Respecting the real-world limits of the materials you are using. Work AND pads.
Wearing out Oilite I is one thing. Even worse if it were Oilite II or Oilite 16.
MELTING any of the above, or trashing roller-bearings, either one sez you are overly optimistic as to swept bearing area, overly aggressive as to SFM, unit pressure, or all of the above.
Step back. Start over. Think about the meaning of "rest" not "spindle".
Slow TF down!
And get filtered flood lubricant onto the zone to clear chip. make it slipperier, and keep it cooler.
It didn't ask to be a dry bearing run on too small a bearing area, too fast, at too high a unit pressure for the materials.
But that's what you have. Either of proper roller-bearings or Ignorant solid bearing Bronze should do yah - if but utilized properly.
Worst case, yah shrink or press a hardened sleeve onto it, press-off or score and split it off later. If the cost is justified vs just motating at a more realistic rate of turns.
Read "damned seldom." Or "TANSTAAFL"