Sift together flour, salt, nutmeg and salt. Cream butter, add sugar, cream until fluffy. Add extract and mix, add egg and mix well. Add sifted ingredients gradually and mix. Chill thoroughly. Preheat oven to 350 while chilling.
Allow 1 tablespoon of dough per cookie, shape into balls and back 12-15 minutes in preheated oven. Cool and frost with Rum icing.
To make Rum Icing:
Cream butter, add extracts and mix. Add powdered sugar gradually and mix well. Add milk and mix.