The document presents a simplified existential graph system based on the original system developed by Charles Sanders Peirce. The simplified system has one axiom ("consistency") and one rule of inference ("iteration"), making it simpler than Peirce's system which had one axiom and five rules of inference. The author proves that the rules and axiom of Peirce's system can all be derived as theorems in the simplified system, showing their logical equivalence. This establishes the simplified existential graph system as a valid axiomatization of Boolean algebra.