Mr. Glynn was in Europe in 1906 when the Democratic state convention at Buffalo nominated him for State Comptroller. William R. Hearst headed the ticket and all of the nominees, except the candidate for Governor, were elected. "One of the best Comptrollers the state ever had" was a common remark throughout New York whenever Comptroller Glynn's administration was mentioned. It was a reputation that was well deserved as the facts amply prove. He instituted reforms and established standards of efficiency which saved the state millions of dollars.
His administration was signalized by a vigorous enforcement of the many laws administered through the Comptroller's department. He located corporations which for years had escaped taxation and compelled them to pay. He enforced the statute which gives the Comptroller the power to investigate the manner in which county, municipal and village officials are performing their duties. His investigations revealed serious conditions in several counties and resulted in the institution of many reforms. When he became Comptroller Mr. Glynn compelled all banks and trust companies having state funds on deposit to give surety company bonds instead of personal bonds. The wisdom of that action was shown during the financial panic of 1907. When that financial crisis came the state had $22,000,000 on deposit in banks and trust companies. Comptroller Glynn personally took hold of the situation to protect the funds of the state. Banks in which $800,005 of state moneys were on deposit closed their doors but the State did not lose a penny. Within sixty days it was reimbursed for every dollar on deposit in those institutions. The state came through the panic without a dollar of loss. Comptroller Glynn established a system of safeguarding the stock transfer tax stamps, he located and had transferred into the state treasury many thousands of dollars of court and trust funds that should have been in the custody of the state. The amount of corporation and inheritance taxes collected was greatly increased during his administration.