Hungarian Goulash

Have 2 pounds of very lean beef cut into abut 1 inch cubes. Be sure and have lean beef, and cut off all the fat. Melt 2 ounces of lard in a heavy skillet, and fry in it 2 fair-sized red onions, you can use Bermuda onions, but the goulash won’t have as pungent a flavor.
Do not allow the onions to brown, but when they are tender add the cubed meat, and shake the skillet and stir the mixture until the meat and onions become golden brown. Season with salt to taste, and add 1 generous tablespoon of the best Hungarian paprika you can get.
This is necessary for a true flavor. Domestic paprika has pungency, but no heat. Spanish paprika has heat but little pungency; real Hungarian paprika has pungency, heat, and lasting color. Also add 3 ounces of tomato paste, ½ teaspoon of caraway seeds ½ cup dry red wine, and enough beef bouillon (about 1 can).
Put the lid on the skillet and allow the mixture to simmer very slowly for about 3 hours. If the liquid boils away too much, add a little more bouillon and wine.
When the meat is quite tender, add 5 medium-sized boiled potatoes, cut into pieces about the size of walnuts. Mix the potatoes and meat thoroughly, and let the whole thing simmer for another 10 minutes. If there should be any grease, skim it off.
Just before serving, melt ½ ounce of butter in a small saucepan, stir in quickly ½ teaspoon of paprika, and add immediately a tablespoon or so of water. Pour this liquid into the stew, again mix well, and serve. This last addition to the goulash gives it the coveted red color, and the delicious Hungarian flavor.