Place stick of butter in a 13x9 baking dish and place in the oven. Turn oven on to 375°F.

While the butter is melting mix the dry ingredients together. When the butter is almost done add the water (or milk) to the dry mixture.

When butter has started to brown a little remove dish from oven. Pour batter down the center of the pan. Using a slotted spoon quickly scatter peach slices over the batter/butter mixture, then pour the juice down the center. Bake for approx. 45 minutes.

When batter starts to brown on top sprinkle sugar and cinnamon over the cobbler and let bake for awhile longer. Serves very well with ice cream!