EDITORIAL : THE CASE AGAINST GINGRICH HOUSE SPEAKER SHOULD STEP DOWN AND ALLOW SOMEONE WITH MORE CREDIBILITY TO TAKE OVER.

ALTHOUGH House Republicans already believe the issue of whether Speaker Newt Gingrich should retain his post as House leader has been resolved and the answer is an unqualified yes, the question merits further examination.

First, we commend the combative Georgia Republican for admitting mistakes and accepting responsibility. Although his one-sentence statement Saturday left much to be desired as an apology, it still was an admirable first step toward resolving what could have been a protracted political fight.

(Gingrich admitted he violated House rules in connection with his political fund-raising organization - and then gave inaccurate information to the House ethics subcommittee about it.)

By shouldering responsibility over how he financed his college course and televised workshops, Gingrich spared himself and Congress lengthy and partisan hearings and further investigations.

Now it's up to the full Ethics Committee to recommend whether the House ought to reprimand Gingrich or impose a censure, a more serious punishment that would prevent him from serving as speaker. Both sides are marshaling their cases.

Democrats, of course, are calling for his ouster. It's payback time. Even with the '94 housecleaning in Congress, there are still Democrats around who remember that it was Newt Gingrich who filed the ethics charges that led Speaker Jim Wright to resign his House seat in 1989. And Gingrich used the Wright case to raise money for his political organization, GOPAC, which is now the root of his ethics troubles.

However, unlike Wright, Gingrich's case did not involve personal gain. Still, Gingrich's statement is troubling. Gingrich said he ``did not intend to mislead'' the ethics subcommittee regarding funds from GOPAC, yet he had hired a lawyer and had more than two years to research his involvement before he submitted the inaccurate statement to the committee. How long does it take to research the truth?

Republicans are rising rapidly to his defense, presumably to choke off any debate on his remaining as speaker. Republicans argue, and with some justification, that Gingrich's infractions pale in comparison to the scandals and fund-raising abuses that are enslaving the White House.

But the ``he's-worse-than-I-am'' suit of armor leaves the backside vulnerable. In short, Gingrich has been crippled as a leader. He rose to power admirably fighting the abuses of power and championing House reforms, and he deserve's the public's gratitude for that.

But now he should demonstrate real leadership and step down, saving his party a bitter political battle. Gingrich probably could win again as speaker, but his credibility has been compromised. That's not what the American public expects nor demands from its elected leaders.

As Gingrich himself argued when Wright's job was on the line, the speaker of the House must be held to the highest standards.