So this beam is in a sort of annoying location for a remodel and trying to figure out if this is actually doing anything. It spans roughly 8 feet and is attached to the sill plate of the foundation with an L bracket and then another hanger (same function as a joist hanger but different dimensions) attaches it to a set of paired joists that are sitting on a post. The beam is not in contact with the floor joists above from what I can see (there is about 1cm of gap between the beam and all joists. The only thing I can see it possibly doing is providing some type of "belt and suspenders" in case the floor above started to sag. The house was built in 1937 so I assume any settling would have happened years ago. Hypothetically could this beam be removed without ill effects?
As it is now, it doesn't seem to be doing any work.
However, there could be a reason for it to be there in the first place. The paint marks indicate that perhaps some type of shoring/screw-jack was attached to it, and that jack has since been removed. Make sure that the floor joists are not sagging, or that the span is not too long for their dimensions.