I did check the voltage at the block where the green and red lines come in and it reads 56 volts when it rings.
Follow Arthur's instructions for the wiring.
If you want to check the ringing voltage you need the right meter. Ringing voltage is superimposed over the tip and ring's DC voltage. I'm pretty sure you're reading the DC line voltage and not the ringing current. Ring current is 20hz, you can get an idea with a voltmeter set to AC, but it won't be accurate.
Your best bet is if you can get you hands on a working old standard phone and see if it rings on the line, if wiring it correctly doesn't work.
