Step 1: Preheat oven to 350 degrees F. Coat a 9-inch x 5-inch loaf pan with cooking spray.
Step 2: In a large bowl, cream butter and sugar until light and fluffy. Add eggs, one at a time, beating well after each addition.
Step 3: Combine flour, baking powder, salt, and spices; set aside.
Step 4: Combine applesauce and molasses.
Step 5: Add dry ingredients alternately with applesauce mixture to egg mixture. Fold in raisins and nuts.
Step 6: Pour into loaf pan. Bake for 1 hour, or until a toothpick inserted into the center comes out clean.
Step 7: Cool 10 minutes, remove from pan and continue cooling on a wire rack.
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