The original patent from 1891 for a toilet roll shows the correct rolling direction. In case you ever doubted it.
@Natasha_Jay I m sorry, but it's a patent drawing, and needs to clearly show function. Drawing it with the paper out the back would have been harder to comprehend.
But go ahead and hang it how you want. I assume you don't have cats, or don't mind periodic piles of TP under the dispenser...
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