not entirely correct

= commerce

= gold

is converted into

/

/

/

how much (if any) depeds on your slider percentages.
running 70%

:
70% of your

is converted to

30% of your

is converted to
running 70%

& 30%

70% of your

is converted to

30% of your

is converted to

0% of your

is converted to
so as you can see.. "gold" is not converted into research. commercee is converted to research. gold is only used to pay for units, city maintance, and civics.
in otherwords any gold you acquire is sent straight to your treasurary.
therefore... any buildings or specialists (and shrines/corporations etc.) that generate or multiply

dont go through the slider at all and go straight to your treasuray. which is why pooling all those sources of gold (merchants, corporations, religious shrines etc.) into 'one' city that has

multiplying buildings can pay for all your empires expenses.. leaving you free to run the slider at 100% or some ratio that equals 100%. so if you have no sources of gold other than the slider.. you will never have a postive cash flow with the slider at or near 100%, making all those banks you built in your cottage cities next to useless.
understanding this facet alone is what allowed me to jump up to noble level, and when i had my city specialization down to take full advantage of the aforementioned info.. i was able to move up to prince.