World's Fastest Peach Cobbler

1/2 cup butter or margarine
1 cup self-rising flour
2 cups granulated sugar, divided
1 cup milk
4 cups peaches, sliced
1/4 teaspoon nutmeg
1/4 teaspoon allspice
1/2 teaspoon cinnamon
1 teaspoon lemon extract

Combine peaches and 1 cup sugar. Add spices and bring to a boil. Melt butter in 13 x 9 x 2-inch pan.

Combine flour, 1 cup sugar, and milk. Mix well and pour over melted butter. Do not stir! Pour peaches and sugar mixture over batter. Bake at 350 degrees F for 30-40 minutes or until golden brown crust has formed.