One of the causes of the Great Depression was the Dust Bowl. The Dust Bowl was a severe drought that ruined the land that farmers used to grow crops, which caused a steady decline in food.
Many people did not have enough food or money to pay for it. Because of this, people had to stand in a line for an extensive period of time just to get a bite to eat.
This song talks about being “in the money”, and how “old man depression did them wrong”. The song most likely represents that they were hopeful that things would get better after the Great Depression ended.