Ingredients:

  Amount  Measure       Ingredient -- Preparation Method
--------  ------------  --------------------------------
1         cup (2 sticks) butter (don't use margarine) 
1/3       cup            granulated sugar 
2         teaspoons      water 
2         teaspoons      vanilla extract 
2         cups           all-purpose flour 
1         cup            finely chopped pecans
                         Powdered sugar

Preparation:

Cream sugar and butter together. Add water and vanilla extract. Mix well. Add flour and nuts, a little at a time. Mix well. Dough should be stiff. Refrigerate dough for at least 4 hours, but preferably overnight.

Roll teaspoonsful of the dough into the shape of crescents. Bake on ungreased cookie sheet at 375 degrees F for 15 to 20 minutes. Do not over-bake. The bottom edges should just barely be brown. Allow cookies to cool. Remove from baking sheet when cool and roll the cookies in powdered sugar until well coated.