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In a bowl combine flour, sugar, baking powder, salt and cinnamon.
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In another bowl combine milk and eggs.
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Add to milk mixture to flour mixture, beating vigorously until smooth.
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Blend in oil.
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Add peanuts.
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Pour batter into 2 greased bread pans.
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Let stand for 20 minutes.
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Bake at 325 degrees for 1 1/4 hours.
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Use a toothpick to test for doneness.
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Remove pans to a rack.
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Let stand 5 to 10 minutes.
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Invert pans onto a breadboard or platter.
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Cut into 1-inch thick slices.