What did the letters SPQR represent in ancient Rome?

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In ancient Rome, the letters SPQR stood for the Latin phrase Senatus populusque Romanus, which translates to "The Senate and the people of Rome".12

This acronym served as a powerful symbol of the Roman state, representing the collaborative authority shared between the Senate—the aristocratic deliberative body—and the Roman citizens. During the era of the Roman Republic, these letters were frequently displayed on public buildings and military battle standards to signify the unity and collective governance of the Roman state.23