Preheat oven to 400 degrees F. Place bread cubes on ungreased baking sheet. Bake for 8-10 minutes or until lightly golden and crisped. Set aside to cool.
Reduce oven to 350 degrees F.
In a medium Dutch oven (3 1/2 quart) heat oil over medium-high heat. Add onions and 1 teaspoon of salt. Toss well to coat. Place lid on securely, and let cook for 5 minutes, without stirring or lifting the lid. After 5 minutes lift lid carefully to pour condensation into onions; stir well. Replace lid and cook three minutes more. Stir again, cover and cook for an additional three minutes, or until onions are soft. Remove pan from heat and scoop onions into a bowl; set aside. Do not wash pan.