Combine cornmeal and water in a large mixing bowl; stir well. Set aside for 5 minutes.
Gradually add milk to cornmeal mixture, stirring well. Sift together flour, baking powder, sugar, and salt; stir into cornmeal mixture. Add beaten egg and 2 tablespoons melted butter; stir well.
Drop batter by 2 tablespoonfuls onto a hot, lightly greased griddle. (Stir mixture frequently to prevent cornmeal from settling.) Turn cakes when tops are covered with bubbles and edges are browned. Serve hot with butter.