We have both gray and white matter in the brain; however gray matter plays the most important part in our day to day functioning. Gray matter is the part of the brain that is more dense with neurons and is actually responsible for processing information in the brain.
The hippocampus is the part of the brain that is primarily involved in learning, memory and emotional control among other things. It has been shown that things like chronic depression, PTSD, chronic stress are associated with decreased volume in the hippocampus (aka less gray matter within the hippocampus).