Sprinkle veal with salt, white pepper, and paprika. In a large skillet, heat butter with oil over medium heat and brown veal lightly on all sides. Add onion, tomato, carrot, green pepper, tarragon, and wine. Bring to a boil, cover, reduce heat, and simmer until veal is very tender (about 1-1/2 hours).
Mix in peas and cook, uncovered, 5 to 8 minutes longer, until they are just tender. Salt to taste. Sprinkle with parsley and serve.