Preheat the oven to 400 degrees. Cut the lard into the dry ingredients with a fork or pastry blender until the mixture resembles coarse cornmeal. Stir in the milk a small bit at a time, adding just enough so that the dough rounds up and leaves the sides of the bowl. Turn the dough out onto a lightly floured surface and roll it out until it is 1/2-inch thick. Then with a 2 1/2-inch biscuit cutter, cut out the biscuits and place them on an ungreased baking sheet. Bake for 10 to 15 minutes, or until they are golden brown on top. Serve hot with butter and jam or with syrup.