Mix dry ingredients in large bowl.
Combine egg and milk; add dry ingredients
and beat until smooth; add margarine.
Add peaches and mix well.
Bake on ungreased, hot griddle.
Serve hot with butter and cinnamon.

Process first 4 ingredients in a blender until smooth,
stopping to scrape down sides.
Pour mixture through a wire mesh strainer into a pitcher,
discarding solids.
Serve over ice; garnish, if desired.
Yield: 5 cups.