Scald the milk, add the butter and pour hot liquid over the bread cubes. Soak about 5 minutes then add sugar, eggs, whiskey and spices. Add the raisins.
Pour mixture into buttered baking dish. Set the dish in a pan of hot water and bake until knife inserted in the center comes out clean, or about one hour.
Serve with brandy butter (hard sauce), rum sauce or custard sauce.