A voltage regulator for a high output DC generator that uses a stack of pure carbon disks for the variable resistance element. A spring holds pressure on the stack to reduce its resistance when the generator output voltage is low. This allows maximum field current to flow. The field from an electro-magnet, whose strength varies directly with the generator voltage, opposes the spring to loosen the stack and increase its resistance when the generator voltage needs to be decreased. The increased resistance decreases the field current and reduces the output voltage.