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Cream the butter and cream cheese together, and make a thick paste by adding the flour, cream, and salt.
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Cover with plastic wrap and refrigerate until chilled (the original recipe says "overnight").
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Preheat the oven to 350 degrees.
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Roll out the dough until 1/2" thick and cut out into rounds about 4" across.
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Fill with jelly, and fold over in half.
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Seal the edges with egg and brush with milk.
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Bake about 15 minutes.