Heat the oven to 350F. Cream the cheese and butter. Sift together the cayenne pepper, salt and flour; add gradually to the butter mixture. Add the chopped nuts and mix well. Divide the dough in half and shape into logs 1 1/2 inches in diameter. Wrap well and refrigerate for at least 1 hour.
Line baking sheets with parchment paper. With a sharp knife, cut the logs into 1/4-inch thick slices. Place the wafers 1 to 2 inches apart on the baking sheets.
Bake for 15 to 20 minutes, until lightly colored. Cool and store in an airtight container.
Makes 6 dozen.
[The Baltimore Sun; Dec 8, 1991]