1734, from latter (adj.) + -ly (2). Called by Johnson [1755] "a low word lately hatched." Related: Lattermost.
Entries linking to latterly
latter adj.
Old English lætra "slower," comparative of læt "late" (see late (adj.)). Meaning "belonging to a subsequent period" is from c. 1200. Sense of "that has been mentioned second of two or last" is first recorded 1550s.
In modern use the more common word is later, which is from mid-15c. and is perhaps a new formation or a variant of this word. Latter survives mostly in the phrase the latter, which, with the former is used to avoid repetition (but sometimes incorrectly, when more than two are involved).
-ly 2
common adverbial suffix, forming from adjectives adverbs signifying "in a manner denoted by" the adjective, Middle English, from Old English -lice, from Proto-Germanic *-liko- (cognates: Old Frisian -like, Old Saxon -liko, Dutch -lijk, Old High German -licho, German -lich, Old Norse -liga, Gothic -leiko); see -ly (1). Cognate with lich, and identical with like (adj.).
Weekley notes as "curious" that Germanic uses a word essentially meaning "body" for the adverbial formation, while Romanic uses one meaning "mind" (as in French constamment from Latin constanti mente). The modern English form emerged in late Middle English, probably from influence of Old Norse -liga.