A bill discriminating and counting apparatus in which a plurality of bills with different sizes are filled between side hopper members and fed into a transport path by a feeding mechanism. The feeding mechanism comprises a plurality of rollers disposed in a bilaterally symmetrical state. The plurality of rollers are arranged so that, when a distance between the side hopper members is adjusted according to the longitudinal dimension of a bill with the maximum dimension in the longitudinal direction and a bill with the minimum dimension in the longitudinal direction is disposed at a position where the bill is brought into contact with one of the side hopper members, at least a part of the rollers installed on the opposite side of the side hopper member where the bill is brought into contact therewith is brought into contact with the bill. Also, the feeding mechanism comprises a guide member guiding the bill to the inlet of the transport path. The guide member comprises a guide surfaces formed so that the opening area thereof is gradually increased toward the both ends thereof, and the guide surfaces are formed so that the opening area thereof is converged to zero from the insert port toward the inlet of the transport path.