Place the chopped pumpkin in a large saucepan, cover with water, and add 1 teaspoon salt. Bring to a boil and cook, uncovered, until fork tender, about 15 minutes. Drain in a colander, let cool, and mash in a large bowl. (You should have about 4 cups of pumpkin puree.)
In a large, heavy pot or Dutch oven, melt the butter over medium-high heat. Add the onions, bay leaves, the remaining 1 teaspoon salt, the white pepper and sugar. Cook, stirring until the onions are soft and lightly golden, about 10 minutes. Add the chicken broth, water, pumpkin puree and peanut butter, stirring well to mix. Bring the mixture to a boil, then reduce the heat to medium and cook, uncovered, until it is thickened and coats the back of a spoon, about 1 hour and 15 minutes.
Stir in the cinnamon, nutmeg and allspice. Remove and discard the bay leaves and serve hot in soup bowls.
Yield: 10 - 12 servings