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Preheat oven to 350º F. Grease 11 x 7-inch baking dish.
Combine evaporated milk and water in top of a double-boiler and scald over rapidly boiling water. Remove from heat. Stir in bread crumbs, brown sugar and butter. Cool to room temperature.
Beat eggs in a large bowl until well mixed. Add raisins, cinnamon and salt; mix well. Stir in bread crumb-milk mixture; beat slightly. Pour into prepared baking dish. Place baking dish in large pan; fill pan with warm water to about 1-inch depth.
Bake 40 to 45 minutes or until knife inserted in center comes out clean. Serve immediately with whipped cream.