The most common and most likely answer to this crossword clue is the 8 letter word DOLDRUMS
I've seen this crossword clue in The Guardian
D
O
L
D
R
U
M
S
More clues leading to the result DOLDRUMS
- Leaders of drinking society drink vintage liquor for melancholy
- Note worn-out spirits or low spirits
- Instruments curbing long-term depression
- Daughter getting on alcohol’s in depressed state
- Penny’s crumbling spirits leading to melancholy
- Barrels found around ancient dumps
- Musical instruments to entertain elderly in low spirits
- Dilapidated old rum shop stocks poor spirits
- Beat’s incorporating vintage blues
- In depression, finally regained former spirits
Buddy explains!

The straight part
We know that "depression" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case depression = doldrums.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does DOLDRUMS mean?
DOLDRUMS noun- A slothful or stupid person.
- Usually preceded by the: a state of apathy or lack of interest; a situation where one feels boredom, ennui, or tedium; a state of listlessness or malaise.
- Usually preceded by the: the state of a sailing ship when it is impeded by calms or light, baffling winds, and is unable to make progress.
- (by extension) Usually preceded by the: a part of the ocean near the equator where calms, squalls, and light, baffling winds are common.