Instructions: Drain the peaches, reserving the syrup. Cut peaches into 1/2-inch pieces.

In a medium saucepan, combine the syrup with enough water to measure 4 cups. Bring to a simmer and maintain at a simmer over moderately low heat.

In a large nonreactive saucepan or flameproof casserole, melt 2 tablespoons of the butter over moderate heat. Add currants and cook for 2 minutes. Add rice and stir for 1-2 minutes, until well coated with the butter and slightly translucent. Add rum and cook until it evaporates. Add 1/2 cup of the simmering syrup and cook, stirring constantly, until the rice has absorbed most of the liquid. Adjust the heat if necessary to maintain a simmer. Gradually adding syrup, 1/2 cup at a time, cook, stirring constantly, until the rice is Add granulated sugar, the reserved peaches and the heavy cream. Continue to cook, stirring and adding syrup as necessary, 1/4 cup at a time, until the rice is tender but still firm and is bound with a creamy sauce, 3-6 minutes longer. Stir in the remaining 2 tablespoons butter and serve immediately. Pass a bowl of brown sugar separately.

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