Grease and flour a 9" x 5" loaf pan or line with parchment paper. Set aside.
In a large mixing bowl, whisk dry ingredients: flour, soda, salt and spices.
In another mixing bowl, combine butter, molasses and water. Whisk until butter is melted. Cool until not hot to the touch. Add egg and whisk until well combined.
Add wet ingredients to the dry ingredients and whisk until the batter is smooth.
Pour into prepared pan and bake in preheated oven for 35 minutes OR until the toothpick inserted in few places in the center of the cake comes out clean.
Cool completely.
Dust with powdered sugar and slice.
Notes
Keep wrapped in plastic wrap or in an air-tight container for up to 5 days.This cake can be baked in a loaf pan, muffin pan or a 9" square or round pan. I like the loaf shape and that's what I use. You can frost the cake with a cream cheese frosting ( get my favorite recipe for it, here ) or dust it with powdered sugar.