Whisk cornstarch, sugars, cinnamon and dash of salt together in saucepan.
Gradually add water and bring to simmer over medium high heat. Boil for about 1 minute or until thickened.
Peel and slice peaches. Toss with sauce.
Grease 9 x 9 baking pan. Pour peaches and sauce in baking pan.
Slice butter and dot peaches with butter.
Add flour, sugar, salt, baking powder and butter to food processor. Pulse until combined. I usually pulse it until it is about the size of peas.
Gradually add milk to food processor. Pulse only until combined.
Spoon biscuit dough onto peach filling.
Bake at 350 degrees for 30-35 minutes.
Serve warm with vanilla ice cream or freshly whipped cream.