How does George Plunkitt define "honest/dishonest graft"?

In the book Plunkitt of Tammany Hall
William Riordan published many of George Washington Plunkitt's thoughts about government
and about big city machines.  In the link below, you can find the passage that explains
the difference between honest and dishonest graft.

Honest
graft is using your connections and knowledge as a government official to enrich
yourself.  It is essentially what we would now call "insider trading."  Honest graft is
when a goverment official goes out (for example) and buys up land because he knows a
city project will need that land and he will be able to make a lot of money by buying
the land now while no one else knows that it is about to be bought by the city.  He can
buy it cheap and then sell it at a higher price to the
city.

Dishonest graft consists of doing things like
blackmailing people who are doing illegal or semi-illegal things.  It can also consist
of actually taking money directly from the city treasury.  It is more of what you would
expect mobsters to do--things like forcing prostitutes to pay money to police in order
to be allowed to work in a given area rather than being
arrested.

Plunkitt compares "honest graft" to what is done
on Wall Street.  He sees it as a gentlemanly and quite acceptable way of using his
poisition to enrich himself.