Believe it or not, hot buttered rum has been around since colonial days. Molasses was imported from Jamaica, and distilleries in New England made rum. A popular way to drink rum was in toddies and nogs. Multiple recipes for hot buttered rum show up in magazines like LIFE as early as the 1940s. This is a simple recipe. I recommend aged rum over spiced rums; I like El Dorado 12 year.