On the MGM logo, the one with the lion, there are some words written in some foreign language. What are they?

The MGM logo with its roaring mascot Leo the Lion is one of the world's most famous and universally recognized logos. The foreign writing incorporated into the design is actually the Latin phrase "Ars Gratia Artis", which in modern English translates roughly as "Art for the sake of Art". That was the motto of founder Louis B. Mayer and the credo that made MGM the leader of all Hollywood studios for almost 3 decades.