Step 1: Preheat oven to 325° F. Grease and flour 2 9x5" loaf pans
Step 2: Make streusel topping first and set aside. Add the flour, brown sugar, and cinnamon in a medium bowl and mix until combined. Cut in the butter using your fingers or a fork, until it resembles coarse crumbs. Stir in chopped nuts.
Step 3: To make bread mixture. In a medium bowl, whisk together flour, baking powder, salt, cinnamon, nutmeg and cloves. Set aside.
Step 4: With an electric mixer, cream the butter and sugars in a large mixing bowl until light and fluffy. Add the eggs, one at a time, beating well in between each addition. With a wooden spoon, stir in the mashed peaches, nuts and vanilla. Slowly stir in the dry ingredients. Once the flour is incorporated, stop right there. Do NOT over stir.
Step 5: Pour the batter into the prepared loaf pans. Sprinkle the streusel topping evenly over the batter. Bake the bread for 50 minutes to 1 hour 10 minutes, or until a toothpick inserted into the center of the loaf comes out clean. Remove from oven and cool 10-15 minutes in the pan on a wire rack. Remove the bread from the pan and continue to cool on the wire rack. Serve warm or at room temperature.
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