Etymology
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hurrah (interj.)
1680s, apparently an alteration of huzza; it is similar to shouts recorded in German, Danish, and Swedish; perhaps it was picked up by the English soldiery during the Thirty Years' War. Hurra was said to be the battle-cry of Prussian soldiers during the War of Liberation (1812-13), "and has since been a favourite cry of soldiers and sailors, and of exultation" [OED]. Hooray is its popular form and is almost as old. Also hurray (1780); hurroo (1824); hoorah (1798). As a verb from 1798. American English hurra's nest "state of confusion" is from 1829.
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rah (interj.)

in cheers, 1870, a shortening of hurrah. Adjective rah-rah is attested from 1907, originally indicating college life generally, later enthusiastic cheerleading.

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Munich 

Bavarian capital, German München, from root of Mönch "monk" (see monk); founded 1158 as a market town by Benedictine monks. In allusions to "appeasement" it is from the meeting of German, British, French and Italian representatives there on Sept. 29, 1938, which resulted in the cession of Sudetenland to Germany in exchange for Hitler's pledges.

During the flight [from Munich] Daladier sat silent and morose, worried about the reception he would receive at Le Bourget, about how the French would react to his having betrayed Czechoslovakia and France's promises. As the plane circled for landing, he and others saw a massive crowd awaiting them. Expecting jeers, hisses, rotten fruit, and maybe worse, Daladier declared stolidly: 'They are going to mob me, I suppose. ... I appreciate their feelings,' and insisted on absorbing their wrath by being the first off the plane. But as he stood dumbfounded on the gangplank, thousands surged forward carrying flags and flowers, shouting 'Hurrah for France! Hurrah for England! Hurrah for peace!' Daladier turned back to Léger and cursed, 'The God-damned fools!' [Benjamin F. Martin, "France in 1938"]
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hip (interj.)
exclamation used to introduce a united cheer (as in hip-hip-hurrah), 1827, earlier hep; compare German hepp, to animals a cry to attack game, to mobs a cry to attack Jews (see hep (2)); perhaps a natural sound (such as Latin eho, heus).
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heyday (n.)
also hey-day, late 16c. as an exclamation, an alteration of heyda (1520s), an exclamation of playfulness, cheerfulness, or surprise something like Modern English hurrah; apparently it is an extended form of the Middle English interjection hey or hei (see hey). Compare Dutch heidaar, German heida, Danish heida. Modern sense of "stage of greatest vigor" first recorded 1751 (perhaps from a notion that the word was high-day), and it altered the spelling.
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last (adj.)

c. 1200, "latest, final, following all others," a contraction of Old English latost (adj.) "slowest, latest," superlative of læt (see late); in some uses from late (adv.). Cognate with Old Frisian lest, Dutch laatst, Old High German laggost, German letzt.

Meaning "last in space, furthest, most remote" is from late 14c.; meaning "most unlikely or unsuitable" is from mid-15c. Meaning "most recent, next before the present" (as in last night, last September) is from late 14c.; latest would be more correct, but idiom rules and the last time I saw her might mean the most recent time this hour or the final time forever.

The biblical last days ("belonging to the end") is attested from late 14c. Last hurrah is from the title of Edwin O'Connor's 1956 novel. Last word "final, definitive statement" is from 1650s. A dying person's last words so called by 1740. As an adjective, last-minute attested from 1913. Last-chance (adj.) is from 1962. Expression if it's the last thing I do, expressing strong determination, is attested by 1905.

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