Cut 1/4 cup butter into 1 3/4 cups flour with pastry blender until mixture resembles coarse meal.
Sprinkle cold water (1 tablespoon at a time) evenly over surface; stir with a fork until dry ingredients are moistened.
Shape into a ball, and wrap in wax paper.
Chill 15 minutes.
Combine 3/4 cup butter and 1/4 cup flour; stir until smooth.
Shape mixture into a 6 inch square on wax paper.
Chill 5 minutes.
Roll pastry into a 15 inch circle on a lightly floured surface; place chilled butter mixture in center of pastry.
Fold left side of pastry over butter; fold right side of pastry over left.
Fold upper and lower edges of pastry over butter, making a thick square.
Working quickly, place pastry, folded side down, on a lightly floured surface; roll pastry into a 20 x 8 inch rectangle.
Fold rectangle into thirds, beginning with short side.
Roll pastry into another 20 x 8 inch rectangle; again fold rectangle into thirds.
Wrap pastry in wax paper, and chill about 2 hours.
Repeat rolling, folding, and chilling process 2 additional times.
Chill 2 hours.