In large mixing bowl sift together well the flour, sugar, baking powder, salt and spices. Make a well (hole) in the mixture and stir in order the following: oil, egg yolks and water. Beat until smooth.
In separate bowl, beat until very stiff the egg white and cream of tarter. It is very important to not under beat. Pour the egg yolk mixture over the egg whites and gently fold to incorporate the two mixtures together well. Use large rubber scraper/spatula for this job.
Spoon into an ungreased 10 inch tube pan (with removable bottom). Bake in preheated 325ºF oven approximately 50 minutes or until wooden pick inserted comes out clean. Removed from oven and invert on bottle until completely cooled.
To prepare the frosting: In medium sauce pan melt the oleo and blend in flour, salt. Stir together well. Slowly add milk and bring to a boil. Add brown sugar, stirring constantly. Remove from heat. Stir in sifted powdered sugar; now beat until creamy. Add vanilla & peanut butter blending well.
Remove cake from pan and frost.