As basic a recipe as they come.
Update 12/12/2022: As Tom noted in the comments, the card refers to butter, but doesn’t list any butter in the ingredients! Looking into old newspapers, I think the recipe just didn’t intend to use butter. Consider this from the June 19, 1925 edition of The Richmond (Indiana) Item:
From the box of A.D. from Lutz, Florida, by way of Pennsylvania in the 1940s, and originating in Ohio in the 1920s.
1 cup sugar
1-1/2 cup milk
4 cups flour
1 cup nut meats
4 tsp. baking powder
To 2 cups of flour add salt and baking powder and stir into the batter of sugar, egg, butter and milk.
Add other two cups of flour and nut meats. Let rise 20 minutes and bake one hour.