Cream butter, gradually adding sugar and beat until light and fluffy. Beat in egg, vanilla and rum extracts. Sift together flour, nutmeg and salt. Gradually add flour mixture to cream mixture. Shape into 1 inch balls or put mixture through a cookie press. Place on cookie sheet (ungreased) and bake in a preheated oven (350ºF) for 10-12 minutes or until lightly browned. Remove from sheet and sprinkle with powdered sugar. *A family tradition! Makes 2 dozen.