"Rilla was lost in the deeps of despair because Susan had told her she was going to bake one of her silver and gold cakes for the Orphanage social that evening and she, Rilla, must carry it to the church in the afternoon."
-Anne of Ingleside, Chapter 34.

1 cup butter
2 cups white sugar
3 eggs, separated
4 cups sifted all-purpose flour
4 teaspoons baking powder 
1 1/3 cups milk
2 teaspoons vanilla extract

Preheat oven to 350 degrees F (175 degrees C).  Cream 1/2 cup butter and 1 cup sugar; add egg yolks, mixing well. Combine 2 cups flour and 2 teaspoons baking powder. Add flour mixture alternately with 2/3 cup milk to creamed mixture. Pour into two greased and floured 9 inch round pans.  Bake for 20 to 25 minutes, until done. Cool.

Cream 1 cup sugar and 1/2 cup butter. Combine 2 cups flour and 2 teaspoons baking powder; add to creamed mixture alternately with 2/3 cup milk. Beat egg whites, and fold into batter. Stir in flavoring. Pour into two greased and floured 9 inch round pans.  Bake for 20 to 25 minutes. Cool.

Spread your choice of frosting between layers, alternating yellow and white layers. Frost outside of cake.

Thanks to ParkCornerPEI for the reference.