Cream butter in a large mixing bowl; gradually add 1 cup sugar, beating until light and fluffy. Add eggs and vanilla, beating well; stir in ground almonds, mixing well.
Sift together flour, baking powder, and cinnamon in a small mixing bowl; gradually add to creamed mixture, stirring well after each addition. Cover and refrigerate overnight.
Roll one-fourth of dough to 1/4- inch thickness between two pieces of waxed paper, keeping remaining dough chilled until ready to use.
Cut with a fluted 2-inch round cutter; place half of cookies on lightly greased cookie sheets. Cut centers from remaining cookies, using a 3/4- inch round cutter; place on lightly greased cookie sheets. Bake at 350° for 10 to 12 minutes. Remove from cookie sheets, and cool on wire racks. Repeat procedure with remaining dough.
Spread a small amount of jam on the bottom of each solid cookie. Top with remaining cookies to make sandwiches. Sift powdered sugar over tops of cookies. Fill cut-outs with jam. Store in airtight containers.