In a saucepan, put milk, water, sugar and salt. Cover and bring to a boil.
Cool milk mixture to room temperature and pour into a large mixing bowl.
Add yeast, egg and flour. With an electric mixer or by hand with a whisk, beat at medium speed until batter is smooth and has a loose, sticky consistency.
Cover bowl with plastic wrap and refrigerate overnight.
Butter English muffin rings, dip in cornmeal and place on baking sheet.
Remove batter from refrigerator and stir down with a rubber spatula until the batter is deflated. Fill muffin rings half full and sprinkle tops lightly with cornmeal. Cover with a cloth and let dough rise to tops of rings, about 45 minutes to an hour.
Bake muffins at 450 degrees until golden, about 15 minutes. Remove from oven and lift rings off muffins.
Remove muffins with a metal spatula. Slice in half, toast and serve with butter and jam.
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