These images all come from the 1930 University of Texas yearbook. While they reflect some aspects of the culture at the time, you would never know the country was in a depression.
Very little of the yearbook was in color, other than these images. I imagine most students could not afford them at the time, under the circumstances. I know I was never able to afford a university yearbook during my four years.
Here you see a student sweating over his impending exams.
And if you look closely enough at the inside of the yearbook, you can read the date Irene received it!