Makes 48.

3 cups finely crushed vanilla wafers
1 cup finely chopped walnuts
1 (15 ounce) can sweetened condensed milk
1/3 cup rum
Confectioners' sugar or colored or chocolate sprinkles

Combine wafer crumbs and nuts. Add sweetened condensed milk and rum; blend well. Chill for one hour.

Dip palms of hands in confectioners' sugar. Shape, by teaspoonsful, into small balls. Roll in confectioners' sugar or sprinkles. Store in covered container in refrigerator with wax paper between layers. Rum balls can be kept moist and fresh for weeks.

NOTE: May be dipped wholly or partially in melted semisweet chocolate.