Ridiculous. He was talking about secession. Secession was what the 13 colonies did from the British Empire. Secession was a principle to liberate the world in his words....until he became president and was told by his corporate fatcat buddies how much money they stood to lose if their cash cow aka the Southern States, left.
Do you know the pretext or occasion for his speech of January 12, 1848? Lincoln the politician was being a politician. He was protesting the presidents war with Mexico. His claim was that Polk was just making a bad situation worse.
His address speaks to Polk's decision-making capabilities regarding the dispute over hotly contested boundaries between the United States and Mexico. The essence of Lincoln's argument was that the actual boundary lay between the effective boundary of Mexico and the effective boundary of the US.
Texas, and eventually the US claimed territory that Mexico said belonged to them. But it was land that Mexico didn't effectively control - it was under the control of Texans.
You cherry-picked the quote because it appears to support your POV. Point of fact it does not. The second half - the yang to your ying - is; "Any portion of such people that can, may revolutionize, and make their own, of so much of the teritory(sic) as they inhabit. More than this, a majority of any portion of such people may revolutionize, putting down a minority, intermingled with, or near about them, who may oppose their movement."
Lincoln's rather wordy point was that the Texans had the divine right to assert their right of self-determination as long as they could hold that ground over the actions of their opponents. Your right to rebel doesn't preempt my right to defend.