In a medium skillet over medium heat, heat dried beef slices.

Allow to heat through and add some grease to the pan.

With a slotted spoon, remove to a platter, while leaving as much grease behind as possible.

Whisk in flour all at once to form a roux.

Whisk in milk, a little at a time, increase heat to medium-high, and cook, stirring, until thickened.

Bring to a boil, stir in beef, salt, and pepper.

Heat through and serve over toast.