Preheat oven to 350 degrees F (175 degrees C). Lightly grease one 10 x 10 inch baking pan.

In a large saucepan boil the raising with the water for 10 minutes. Add the butter or margarine and let cool.

In the same pan add the flour, soda, salt, sugar, cinnamon, nutmeg, and chopped nuts (optional), mix well and pour batter into a lightly greased 10x10 inch baking pan

Bake at 350 degrees F (175 degrees C) for 35 minutes. Serves 8 to 12.