Preheat oven to 350°F. Grease bottom of 9 X 12 loaf pan. Beat together eggnog, rum, sugar, vanilla extract until very smooth, add butter stir until smooth.

Sift together all-purpose flour, baking powder, salt and nutmeg. Add eggnog mixture and stir. Pour it into a lightly greased pan.

Bake bread for 40 to 60 minutes. Test center with toothpick. Cool 10 minutes and remove from pan.

Wrap tightly to keep moist.