A sheet paper storage and dispensing device stores and dispenses sheet paper, and includes a first reel drum onto which a tape is wound; a second reel drum on which sheet paper is stored; a motor which drives the first and second reel drums via a drive system; an electromagnetic clutch which switches between transmitting and interrupting drive force from the drive system; an electromagnetic brake which applies a brake to the drive system; a trigger sensor which detects supplying of the sheet paper; a tape speed detection section which detects a transporting speed at the intake/discharge port; a motor speed variation control unit which controls changes in a rotation speed; and a winding control unit which causes winding by controlling the electromagnetic clutch so as to transmit the driving force when supplying of the sheet paper to the intake/discharge port is detected by the trigger sensor.