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Preheat oven to 375F.
Place butter into a 9″x13″ baking dish.
Place baking dish into the oven and allow butter to melt as the oven preheats.
Meanwhile, in a bowl, stir together the peaches, sugar, cornstarch, and baking spice. Set aside.
In a microwave safe bowl or measuring cup, heat the milk until slightly warmed. Set aside.
When butter is melted, remove the baking dish and whisk in the milk, vanilla, brown sugar, and Bisquick until well mixed.
Pour the peach mixture on top of the batter. Do not stir.
Place back in the oven and bake for 40-45 minutes, until the top is golden brown.