Preheat oven to 400°F. Melt butter and pour into a 9x13-inch baking pan. Add peaches. Sprinkle ½ cup sugar over peaches, dust with nutmeg and cinnamon, and stir together.
In a medium-size bowl, combine remaining ½ cup sugar with flour, baking powder, and milk. Stir until smooth. Pour over peaches. Bake until top is golden, 30–40 minutes. Serve with whipped cream if you like.
This old-fashioned dessert is always popular. We’ve seen some similar recipes in 19th-century cookbooks that went by the name of “bird’s-nest pudding” or “crow’s-nest pudding.”