Preheat oven to 350°F.
In a saucepan over medium heat, add 1 cup sugar, water and peaches. Simmer until sugar is dissolved and peaches have softened.
Pour melted butter into a 9x9-inch baking dish.
In a medium sized bowl, whisk flour, salt, ¾ cup sugar, baking powder and milk until smooth. Pour over butter. Do not stir. Spoon peaches over batter. Do not stir. Sprinkle with cinnamon, if desired.
Bake 45 minutes to 1 hour, or until brown and bubbly.
Let cool and serve with a scoop of vanilla ice cream.