Preheat the oven to 350 degrees F. Coat the inside of 2 clean coffee cans with nonstick cooking spray.
In a small saucepan, combine the water, coffee granules, raisins, and baking soda. Bring to a boil and cook for 2 minutes, stirring constantly. Remove from the heat and allow to cool.
In a medium bowl, cream the sugar and butter. Add the vanilla, egg, and cinnamon, beating until well mixed. Alternately stir in the flour and the cooled raisin mixture, mixing well. Fold in the nuts, then divide the batter evenly between the coffee cans.
Place both cans on a baking sheet and bake for 50 to 55 minutes, or until a wooden toothpick inserted in the center comes out clean. Let cool for 15 minutes, then remove from the cans and allow to cool completely. Slice and serve.