Melt butter in rectangular baking dish. Next, mix until smooth flour, sugar, baking powder and milk. Pour directly into melted butter. Peel and slice peaches into a saucepan with cinnamon and 1 cup of sugar; bring to a boil and pour onto batter in baking dish, but DO NOT STIR. Bake for approximately 25–30 minutes or until cobbler makes a golden brown crust on top. Serve with whipped cream or vanilla ice cream.