Problems with my 78' Yamaha 175?

I have 2 questions about this motorcycle. I just bought it from a family friend with the carb off it, the carb needed to be rebuilt I put new jets and hardware on it and everything. I put fresh oil and new gas into the bike and I got it started after the fuel finally started flowing. But I can only rev it high rpms and at high rpms it likes to free run and just go wild. I can't get the rpms down without the bike stalling and dying. I removed the carb and checked the reeds, they look fine. I put everything back together and what do you know I have no compression? I don't know what happened everything on right. But now I have no clue what to do. Pull the motor out of it and see whats going on with it or what. For the people that say i need to clean my pilot jet its brand new and its the right one. Someone help me out. Thanks, Jesse.