1 c. butter, softened
2 c. sugar
4 eggs
3 c. flour
1 tsp. salt
1 tsp. baking powder
1/2 tsp. baking soda
2 tsp. vanilla
1 c. buttermilk

BUTTERSAUCE:

1 c. sugar
4 c. hot water
1/2 c. butter
1 tsp. rum

Generously grease bottom of a 10 inch tube pan. In mixing bowl, cream butter, gradually adding the sugar. Beat until light and fluffy. Add the eggs, one at a time, beating well after each. Add remaining ingredients. Blend at low speed and beat for 2 minutes at medium speed, scraping bowl occasionally. Pour into prepared pan and bake at 325 degrees for 60 to 65 minutes or until done. Prick top of cake with fork and pour warm butter sauce over cake. Cool completely before removing pan.

Sprinkle with confectioners' sugar before serving. Cake stays fresh for days.