Why would you complicate your life with an expensive chip like max7219 first of all, and second of all why would you pick this chip that's meant to display up to 8 x (7 segment + dot) digits ?
By design, the chip only turns on one digit at a time (8 leds), so you'd basically have 8x8 blocks and some flicker and a lot of pointless coding to convert your vertical columns of text into those 8 digits.
There's plenty of led drivers out there with lots of channels, and led drivers which can be connected in series so that you just shift data and that goes into the display
For example, TLC5955 has 48 channels each capable of up to 30mA , so you could control 48 leds at a time, or multiples of 48 leds if you multiplex. It's also only around 5.6$ if you buy at least 10 on Digikey, compared to MAX7219 which can cost upwards of 8-10$ each.
Here's a link:
http://www.digikey.com/product-detail/en/texas-instruments/TLC5955DCA/296-44424-5-ND/5176230If you want cheaper, you can get something like LED2472G which has 24 channels and costs only 2$ if you buy 100, or 2.5$ if you buy at least 10 :
http://www.digikey.com/product-detail/en/stmicroelectronics/LED2472GBTR/497-14188-1-ND/4506339It behaves like a regular shift register, so you can chain several of these and then just shift the bits and hit the latch and all leds flip to new states at the same time. This particular chip even splits the channels into groups of red , green and blue channels, so you can enable or disable one group separately from the others groups if you want to, check the datasheet to see what I mean.
There's even simpler chips like PCA9956B , still only about 2.5$ each if you buy more than 10:
http://www.digikey.com/product-detail/en/nxp-usa-inc/PCA9956BTWY/568-12502-1-ND/5361204See datasheet, you can chain up to 125 on a i2c bus (can set unique address for each using three pins on them) and set data to each of them separately from the others using i2c, and they even have some special commands to make it easier for you to do text scrolling and stuff like that.