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In a large bowl, cream together the peanut butter and sugar.
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Add the vanilla and salt and mix well.
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Now add half the milk and half the flour, and all of the baking powder.
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Mix very well.
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Add the remaining milk and flour, and mix again until the batter is nice and smooth.
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Turn the mixture into a well oiled 9 by 5-inch loaf pan.
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Bake at 350° for about an hour.
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Remove from the oven, and allow to cool for about 10 minutes before removing from the pan.
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Cool completely before wrapping and storing.
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These loaves freeze well.