A conveying direction-switching device is formed by direction-changing drums each having the same hollow cylindrical shape having a length corresponding to a lateral width of paper money bills to be conveyed. The direction-changing drum has first to fourth openings arranged in the outer periphery thereof, in a manner spaced from each other by a rotational angle of 90 degrees, and the rotational angle position thereof is controlled to be a predetermined phase angle. Inside the direction-changing drum, the first opening and the fourth opening are connected by a paper money guide forming a first curved passage, the second opening and the fourth opening are connected by a paper money guide forming a straight passage, and the third opening and the fourth opening are connected by a paper money guide forming a second curved passage.