The rectifier ground is only for the rectifier and will not melt due to a problem with the main battery "-" frame ground. Reversing the battery polarity - connecting "-" to the red wire and "+" to the ground cable - will melt that wire very very quickly, and almost certainly ruin the rectifier itself. If a diode in the rectifier (there are six) fails by "going short" then that wire can melt. Diodes fail either by going open - no connection between the leads, or going short - like a plain wire between the leads.
I think you will need a new rectifier, but you can test yours anyway. The procedure is posted here a lot of times. You should have a decent digital electrical test meter with a "diode test" function or a decent analog VOM: the digital one makes it slightly easier.