Make the pancakes: In a large bowl, combine the apples, egg, melted butter, and molasses. Stir in the milk.
In another bowl, whisk together the baking soda, baking powder, salt, and flour.
With a whisk or dinner fork, stir the dry ingredients into the wet until just combined. Don't overdo it! There should be some lumps.
In a large, heavy-bottomed skillet, melt 1 tablespoon butter over medium-low heat. Swirl the butter around the pan, entirely covering it. Using a 1/4-cup measuring cup, pour 3 portions of batter into the skillet. Cook for 3 or 4 minutes, or until broken bubbles appear. Use a metal spatula to turn the cakes and cook for another 1 1/2 to 2 minutes, or until a crisp surface is achieved. Keep the pancakes warm on a platter in a preheated 200 degrees F oven while repeating to cook the remaining batter.
Make the butter: In a small saucepan, melt the butter with the honey over very low heat. Serve the pancakes and honey butter hot.
Recipe courtesy of Chonicle Books, The Nantucket Holiday Table by Susan Simon. Image courtesy of Jeffrey Allen.
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