Preheat the oven to 350°F. Cube the butter and place it inside the baking dish. Put the dish inside the oven to allow the butter to melt. Once melted, remove it from the oven.
In a mixing bowl, combine flour, ¾ cup of sugar, baking powder, and salt.
Stir in the milk until combined. Pour the batter evenly over the melted butter.
Place the peeled sliced peaches and remaining ¼ cup sugar in a bowl and stir until all peach slices are coated with sugar.
Spoon the peaches evenly over the batter but do not mix (the batter will rise over the peaches as it bakes).
Bake for approximately 1 hour or until golden and bubbly.
Serve warm with ice cream or whipped cream.