Cream butter, vanilla and sugar. Add water and flour; mix thoroughly. Stir in almonds. Form dough into crescents 2 inches long. Place on ungreased sheet. Bake in slow oven (300 degree) for 20 minutes or delicately browned. While hot, roll in confectioners' sugar.
Can be decorated with red hots before baking if desired.
Makes 2 1/2 dozen cookies.
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