From Ohio History Central
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Morgan's Raid netted few positive results for the Southern military. It did provide some hope to Confederate civilians that their military could still succeed following the Northern victories at Gettysburg and Vicksburg in early July 1863. It also caused a great deal of fear among Indiana and Ohio residents and cost several of these people some personal property that the raiders had seized. Almost 4,400 Ohioans filed claims for compensation with the federal government for items that they lost to the Confederates during the raid. The claims amounted to 678,915 dollars, with the government authorizing compensation in the amount of 576,225 dollars. While the Confederates succeeded in instilling fear in the civilian population, the raid inspired many of these people to fight even harder to defeat the Confederacy. In addition, the Confederate military also lost an entire division of veteran cavalrymen. Morgan also failed to destroy any railroad tracks, bridges, or supply depots. The raid caused no significant harm to the transportation and communication infrastructure of the North. The raid has many negative effects as positive ones for the Confederacy.