Preheat oven to 350 degrees. Melt butter in a light bottomed saucepan over medium heat, stirring consistently. Let bubble and foam for about 5-8 minutes. Once light brown specks appear, remove butter from heat and pour into a heat-proof bowl. Set aside.
In another saucepan over medium heat, mix together peaches, 1 c sugar and water. Let boil and then reduce to simmer for about 10-12 minutes, until thickened. *2*
Meanwhile, in a medium bowl, whisk together remaining 1 c sugar, flour, salt, baking powder and milk. Set aside.
Pour butter into a 3-quart casserole dish.*3* Pour flour batter directly on top. DO NOT MIX! It’s strange, but it will work!
Spoon peaches on top of batter, pouring any remaining peach juice on top. Bake for 40-45 minutes.
Out of oven, immediately sprinkle with cinnamon and sparkling sugar. Serve warm or at room temperature. Top with fresh whipped cream for an extra treat!
Pro tip for peeling peaches. Boil a pot of water and plop the peaches in it for about 10-20 seconds. Remove and the skin should rub right off with your thumb. If not, the peach may not be ripe enough.
If using canned peaches, you can ignore this step and just pour the peaches and peach juice on top of batter during step 5.
Any size smaller than 3 quarts will be too small. Trust me, I made that mistake the first time!