Bring a quart of water to a boil. Boil the pearl onions for 30 seconds to one minute, until barely tender. Transfer to a cold water bath to stop the cooking process. Trim the tips and pop the onions out of their skins.
Remove the papery skin from the sweet onions, leaving the tops and undermost layer of paper skin attached. Trim off the root end.
While the oven preheats, start making the gravy. In a sauce pan over medium high heat, melt the lard and stir in the flour 1/4 cup at a time to create a simple roux. If the roux is too thin, add more flour until the roux thickens and begins to darken in color.
Stir in the beef broth and soy sauce. Continue to stir until the liquid reduces and thickens. Reduce the heat and pour in the milk. Stir until a thick gravy forms. If the gravy is too thin, add 1-2 tablespoons of flour at a time until the gravy reaches a thick consistency - this may take up to 30 minutes.
Preheat the oven to 350 F. Nest the onions and pearl onions, cut side down, in a small cast iron skillet. Season generously with the salt and pepper. Pour the gravy over the onions and bake for 60-90 minutes, until the onions are tender and the paper skin peels off easily.
Serve with a ration of blackened bread and mutton meatloaf. Enjoy with the King of the North!