Spanked By Captain Easy
From The Funnies #23 (1938), spy Helga gets a spanking from Captain Easy:
Via Chicago Spanking Review (which has a lot more details about the comic).
See Also:
Spanking Blog: Adult Erotic Spanking At Its Best
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A "Punished Delinquents In Tears" Movie:
Detention House 3: Spanked Inmates Made Very Sorry
"...a heavy round wooden paddle with a hole in the middle that leaves fearsome red bruises. And then the shaking girls with beaten butts and tearful faces receive another terrible punishment..."
An all-time vintage classic, suitable for framing.