The value and limitation of the atonement

“When the atonement is made universal its inherent value is destroyed. If it is applied to all men, and if some are lost, the conclusion is that it makes salvation objectively possible for all but that it does not actually save anybody. According to the Arminian theory the atonement has simply made it possible for all men to co-operate with divine grace and thus save themselves–if they will. . . .The nature of the atonement settles its extent. If it merely made salvation possible, it applied to all men. If it effectively secured salvation, it had reference only to the elect. As Dr. Warfield says, ‘The things we have to choose between are an atonement of high value, or an atonement of wide extension. The two cannot go together.’ The work of Christ can be universalized only by evaporating its substance.” (Loraine Boettner: The Reformed Doctrine of Predestination, Presbyterian and Reformed Publishing Company, pp. 152-153)