In a mixing bowl, cream butter and sugar. Add the eggs, one at a time, beating well after each addition. Beat in water and extract. Stir in peaches. Combine flour, baking soda, salt and baking powder. Gradually add to the creamed mixture. Stir in pecans.
Pour into a greased 9 by 5 inch loaf pan. Combine topping ingredients. Sprinkle over batter. Bake at 350 degrees for 50-55 minutes or until a toothpick inserted near the center comes out clean. Cool or 10 minutes before removing from pan to a wire rack.