Basicly you have to draw your drawing template with borders and title block in 1:1 scale first and then scale the whole thing up 48 times. There is no paper space method in LibreCAD. Then you can make the actual drawing in real world values within it. For printing the drawing is scaled down again to 1:48 in Print Preview mode.
I once have made a template for letter size. I now have made a template for A1 out of it.
It may not answer all your questions but may give you some clues:
arch_inch_1_48_letter.dxfarch_inch_1_48_a1.dxf