Preparation Heat cream in a small saucepan until hot. Heat butter in a 12-inch heavy skillet over moderately high heat until foam subsides, then sauté morels, stirring frequently, until golden, 6 to 8 minutes. Sprinkle in flour and cook, stirring, 1 minute. Stir in hot cream and reduce heat to low. Gently simmer, covered, stirring once, until morels are tender, 10 to 15 minutes. Season with salt and white pepper. Arrange 5 toasts on each of 4 plates and spoon morels and sauce on top. Serve immediately. Cooks' note:You can substitute 1 ounce small dried morels (1 1/3 cups) for the fresh. Soak dried morels in 2 1/2 cups warm water until softened, 10 to 30 minutes. Lift from soaking liquid, then rinse well and pat dry with paper towels. Pour soaking liquid through a paper-towel–lined sieve into a bowl. Add 1/2 cup soaking liquid to cream when heating (dried morels absorb more liquid than fresh).
Preparation Heat cream in a small saucepan until hot. Heat butter in a 12-inch heavy skillet over moderately high heat until foam subsides, then sauté morels, stirring frequently, until golden, 6 to 8 minutes. Sprinkle in flour and cook, stirring, 1 minute. Stir in hot cream and reduce heat to low. Gently simmer, covered, stirring once, until morels are tender, 10 to 15 minutes. Season with salt and white pepper. Arrange 5 toasts on each of 4 plates and spoon morels and sauce on top. Serve immediately. Cooks' note:You can substitute 1 ounce small dried morels (1 1/3 cups) for the fresh. Soak dried morels in 2 1/2 cups warm water until softened, 10 to 30 minutes. Lift from soaking liquid, then rinse well and pat dry with paper towels. Pour soaking liquid through a paper-towel–lined sieve into a bowl. Add 1/2 cup soaking liquid to cream when heating (dried morels absorb more liquid than fresh).