- Preheat oven to 350 degrees. Generously grease loaf pans or tube pan.
- Heat applesauce and butter together in a saucepan over low heat, until butter melts. Set aside.
- Combine flour, sugar, soda, and spices in a large mixing bowl.
- Add applesauce and butter to the flour mixture.
- Stir in raisins and walnuts. Pour into baking pan(s).
- Bake for 90 minutes. Test with a toothpick to make sure the cake is baked through.
- Dust with powdered sugar, if desired. Serve warm or at room temperature.
Photo credit: marthastewart.com